Manali Petrochemicals Ltd (MPL) reported a sharp improvement in consolidated profitability for the first quarter of FY27, with profit after tax (PAT) rising more than fourfold to ₹64.36 crore, compared with ₹14.34 crore in the year-ago quarter.
Total income also increased to ₹288.49 crore in the June quarter from ₹242.69 crore a year earlier, marking a growth of around 18.9%.
The Chennai-based petrochemical manufacturer said the quarter’s performance remained steady despite continued volatility across global markets, particularly amid developments in West Asia. Improved realisations and effective product-portfolio management helped support profitability during the period.
The strong improvement in PAT also points to the impact of tighter cost control and better commercial execution. On a year-on-year basis, the ₹50.02-crore increase in consolidated PAT represents a growth of nearly 349%.
Improved realisations support earnings
MPL said its standalone profitability benefited from disciplined commercial execution and focused sourcing initiatives during the quarter. The consolidated performance was further supported by contributions from its overseas subsidiary.
The company continued to focus on operational efficiency, cost discipline and prudent working-capital management, even as petrochemical markets remained exposed to fluctuations in raw-material costs, demand conditions and global trade flows.
The sharp expansion in profit relative to income growth suggests that improved realisations, product mix and cost management played a significant role in strengthening the bottom line.
Moving up the value chain
MPL Chairman and Founder Chairman of AM International, Singapore, Ashwin Muthiah, said the quarter demonstrated the resilience of the company’s businesses amid geopolitical and economic uncertainty.
“The quarter reflects the resilience of our businesses in navigating a period of continued geopolitical and economic uncertainty. We have remained focused on serving our customers, strengthening our operations and improving the quality of our earnings.”
He added that the improvement in profitability reflected the company’s continued focus on cost management, operational efficiency and improved product realisations.
MPL’s longer-term strategy is centred on moving progressively up the value chain, with greater emphasis on differentiated, higher-value and sustainable products and solutions.
Product portfolio
MPL is a Chennai-based petrochemical manufacturer that markets propylene glycol and polyols. The company is part of Singapore-headquartered AM International Group, with interests spanning specialty chemicals and other businesses.
MPL has two wholly owned subsidiaries, AMCHEM Speciality Chemicals Pvt Ltd, Singapore, and Manali Speciality Pvt Ltd, India, along with two step-down subsidiaries, PennWhite Ltd, UK, and PennWhite India Pvt Ltd, India.
With global petrochemical markets continuing to face uncertainty, MPL said it would maintain its focus on operational efficiency, cost discipline and working-capital management while monitoring raw-material prices, demand trends and global trade flows.